Americanas proposes contribution of R$ 10 billion to creditors

Americanas introduced that it met with monetary collectors this Monday (6) and Tuesday (7) in quest of an understanding to settle the money owed. The proposal was a capital enhance in money within the quantity of R$ 10 billion. The events, nevertheless, didn’t attain an settlement.

The corporate mentioned it “expects to proceed holding constructive discussions with its collectors in quest of a sustained answer that can permit the continuity of its actions”. The try at negotiation was offered to monetary collectors by Rothschild & Co, advisory providers employed by Americanas.

On February twelfth, Americanas shareholders had proposed a capital contribution in money of R$ 7 billion. The negotiation was led by Jorge Paulo Lemann, Alberto Sicupira and Marcel Telles. The Securities and Trade Fee (CVM) introduced on the time that there was no settlement.

The trio of billionaires would enhance their capital within the firm with the contribution, which thought-about a financing of BRL 2 billion already raised, and would even be transformed into capital. The proposal additionally included the repurchase of debt by the corporate within the quantity of R$12 billion and the conversion of monetary money owed for round R$18 billion reais, half in capital and half in subordinated debt.

In January, the 4th Enterprise Courtroom of Rio de Janeiro accepted the request for judicial recovery of the American Group. Accounting inconsistencies have been alleged that generated greater than BRL 40 billion in debt. The Americanas Group is made up of the businesses Americanas SA, B2W Digital Lux and JSM International. They’re chargeable for manufacturers comparable to Lojas Americanas, Americanas.com, Submarino, Shoptime, Hortifruti, amongst others.